University of Texas Texas AM Investment Management Co. Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• The University of Texas Texas AM Investment Management Co. reduced its stake in MercadoLibre by 44.6% in Q1, leaving it with 520 shares valued at approximately $1,014,000.
• MercadoLibre reported a quarterly EPS of $9.74, exceeding estimates, and demonstrated a year-over-year revenue growth of 37% with $5.94 billion in total revenue.
• Analysts have varied expectations for the stock, with a consensus price target of $2,639.69, indicating a mix of buy, hold, and sell ratings across investment research firms.

University of Texas Texas AM Investment Management Co. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 520 shares of the company's stock after selling 418 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in MercadoLibre were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Texas Yale Capital Corp. raised its position in shares of MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after purchasing an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares during the last quarter. Formidable Asset Management LLC raised its stake in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after acquiring an additional 5 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the last quarter. Finally, Sonora Investment Management Group LLC raised its stake in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after purchasing an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,690.29.

MercadoLibre Price Performance

NASDAQ:MELI traded down $20.99 during trading hours on Thursday, hitting $2,360.41. 113,593 shares of the stock were exchanged, compared to its average volume of 388,368. MercadoLibre, Inc. has a 52-week low of $1,579.78 and a 52-week high of $2,645.22. The firm's fifty day moving average price is $2,463.12 and its 200 day moving average price is $2,215.13. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market cap of $119.67 billion, a P/E ratio of 58.05, a P/E/G ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the business earned $6.78 earnings per share. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.